Due to the scarcity of export orders, all 5 groups of export goods over $5 billion of Vietnam recorded a decrease of 5,9-19,3% in the first 4 months of this year.
Vietnam has 20 products with export turnover of over $1 billion, accounting for 83,8% of total export turnover, of which there are 5 export items of over $5 billion, accounting for 57,4% of total export turnover. However, all 5 of these largest goods groups are in the same situation with a serious decrease. Specifically, phones and components decreased by 17,3% over the same period last year, reaching $17,425 billion; electronics, computers and components reached $16,134 billion, down 8,9%; machinery, equipment and other tools reached $13 billion, down 5,9%; textiles and garments $9,571 billion, down 19,3%; footwear $6,13 billion, down 16,3%.
Generally, in the first four months of 2023, export turnover of goods reached more than 108 billion USD, down 11,8% over the same period last year. In which, the domestic economic sector reached $28,58 billion, down 11%, accounting for 26,3% of total export turnover; FDI sector (including crude oil) reached $79,99 billion, down 12,1%, accounting for 73,7%.
According to the Ministry of Industry and Trade, lacking orders led to the difficulties for imports of input materials for production to grow. In fact, import of goods decreased in the first 4 months of the year to $102,22 billion, down 15,4% over the same period last year, of which the domestic economic sector reached $36,62 billion, down 11,4%; FDI sector reached $65,6 billion, down 17,4%.
Notably, of the 19 imported items with the total value over $1 billion, 2 imported goods over $5 billion are electronics, computer and components, accounting for 37,1% of the total import turnover, which fell sharply by 13,9%, reaching $25,4 billion; other machinery, equipment, tools and spare parts decreased by 14%, reaching nearly $12,5 billion. This is the group of raw materials for production (group of goods to be imported).
The United States continues to be Vietnam's largest export market, with an estimated turnover of $28,4 billion. In contrast, China is Vietnam's largest import market, with an estimated turnover of $33,3 billion. Vietnam's trade surplus to the US was estimated at $24,4 billion, down 23,6% over the same period last year; trade surplus to the EU was $9,3 billion, down 12,7%; trade deficit to Japan was $367 million (same period last year was 589 million USD). In contrast, trade deficit from China was $16,8 billion, down 18,1%; trade deficit from Korea was $8,9 billion, down 36,9%; trade deficit from ASEAN is $2,3 billion USD, down 53%.
Source: https://thuenhanuoc.vn/tapchi/chuyen-muc/doanh-nghiep-thi-truong/6c98c34a-5974-45b3-9457-0a31c0f88ab3
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